The Workers’ Compensation Insurance Rating Bureau submitted an amended 2021 pure premium advisory rate recommendation to the California Department of Insurance that would spread projected costs for COVID-19 across six different categories based on risk of exposure.
In August, the WCIRB filed its recommendation that the Department of Insurance adopt an advisory rate of $1.56 per $100 of payroll for policies incepting on or after Jan. 1. The indicated rate is a 2.6% increase over the last approved rate of $1.52.
The indicated rate would have been $1.50 were it not for the projected costs...
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